CHINA: SAIC and CP group to make MG in Thailand
SAIC Motor and CP Group of Thailand are planning a joint venture (JV) to produce and sell MG models for the ASEAN region.
Initial spend is around CNY1.8bn (US$286m) with SAIC Motor holding 51% through SAIC Hong Kong Investment Company and SAIC UK while CP Group has 49%.
Car sales will start in 2014 with initial - right hand drive - production planned at 50,000 units a year. Additional models will eventually take annual capacity to 200,000 units.
CP Group has previous experience with Chinese-Thai cooperation and operating joint ventures.
- Comment - emissions 'failures' hardly a surprise
- ANALYSIS - supercharged Jaguar XF
- THE WEEK THAT WAS - VW agrees a deal with the US
- RESEARCH SNAPSHOT - Moving closer to self-driving
- Beijing backdrop – China challenges ahead
- Ford launches new EcoBlue 'Euro VI' diesel engine
- BEIJING 2016 - world premieres list
- JLR achieves aluminium recycling milestone
- Ford ‘not interested’ in Fiat Chrysler tie-up
- Ford spending $1.6bn on US plants